The Global Electrical Steel Market is expected to grow at a CAGR of 7.2% during the forecasting period (2019-2026).Electrical steel is special steel tailored to produce specific magnetic properties, high permeability and low amount of core loss.
The Global Electrical Steel market is majorly influenced by factors such as increasing industrialization, flourishing automotive industry, and growth in the energy sector. Moreover, electrical steel has a variety of applications in the construction industry.
The high rate of industrialization is expected to drive the market for electrical steel.
The market for Hybrid Electrical Vehicles (HEVs) is increasing because of the growing environmental concerns and limited oil reserves.
Hybrid vehicles are the future of the automotive industry, non-grain oriented electrical steel has broad applications in HEVs; thus the market for non-grain oriented electrical steel is expected to grow exponentially in the coming years.
Challenges in the processing of electrical steel is a significant barrier to the growth of the Global Electrical Steel Market.
The Global Electrical Steel Market is classified based on type, application, and end-user. Based on the form the market has been segmented as Grain Oriented Electrical Steel and Non- Grain Oriented Electrical Steel.
Further, the market has been divided by applications such as Transformers, Motors & Generator, Inductors, and others. Also, the market is classified by the end-user industry as Automotive Industry, Construction, Manufacturing, Domestic appliances, Energy, and Others.
Grain-oriented electrical steel has a more significant market share than other segments. It is mainly used as a core material for transformers.
The energy sector is growing at a fast pace. The growth in the energy sector will lead to more demand for transformers, and hence the market for grain-oriented electrical steel is expected to increase further.
Non- oriented electrical steel is the fastest-growing segment. Application of this material ranges from automobile usage such as hybrid electric vehicle (HEV)/electric vehicle (EV) traction motors and other applications such as electric power steering motors, high-efficiency air-conditioner compressor motors, vacuum cleaner motors, and energy-efficient induction motors. The boom in the automotive industry primarily in the HEV vehicles market is expected to propel the demand for Non-Grain oriented electrical steel.
The report is divided based on geographies such as North America, South America, Europe, Asia-Pacific and the Rest of the world. Asia-Pacific has the most significant market share for electrical steels owing to its high demand for electricity thereby power transformers.
The other main reason for the high demand for electrical steel in APAC is the high growth rate of electrical steel end-user industries like automotive, manufacturing and construction in the region.
The Global Electrical Steel market report profiles the following companies-
ArcelorMittal S.A., Baosteel Group Corporation, Pohang Iron and Steel Company (POSCO), Nippon Steel & Sumimoto Metal Corporation(NSSMC), JFE Holdings Inc., Jiangsu Shagang Group, Tata Steel, The United States Steel Corporation (US Steel), Angang Steel Co. Ltd. and Gerdau.
ArcelorMittal, Baosteel, and NSSMC are critical players in the market and holds the maximum share in the market. ArcelorMittal operates in more than 60 countries, having the largest market in Europe. It was the largest producer of electrical steel in the world in 2017.
Baosteel Group, a group, based in China exports its products to more than 40 countries and is one of the largest producers of electrical steel. NSSMC provides iron for areas such as construction, automobiles, civil engineering, energy, resources and operates in 15 countries currently.
Grain Oriented Electrical Steel
Non-Grain Oriented Electrical Steel
Motors & Generators
By End-User Industry
Rest of the World
Visualize the composition of the Electrical Steel Market across each indication, regarding the type, end-user, and applications, highlighting the critical commercial assets and players.
Identify commercial opportunities in the Electrical Steel market by analyzing trends and co-development deals.
Excel data sheet with thousands of data points of the Electrical Steel market-level 4/5 segmentation
A PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study
Product mapping in excel for the essential Electrical Steel market products of all major market players
Raw Material Suppliers/ Buyers
Product Suppliers/ Buyers
Industry Investors/Investment Bankers
Education & Research Institutes
1.2. The scope of the Report
2.1. Key Trends & Developments
3.1. Industry Impact Factors (Drivers & Restraints)
3.2. Competitive Intensity- Porter 5 Forces
3.3. Regulatory Analysis
3.4. Patent Analysis
4.1. Grain Oriented Electrical Steel
4.2. Non-Grain Oriented Electrical Steel
5.2. Motors & Generators
5.4. Others (Electromagnets)
6.1. Automotive Industry
6.2. Construction Industry
6.4. Domestic Appliances
7.1. North America
7.1.1. The United States
7.2. South America
7.2.3. Rest of South America
7.3.2. United Kingdom
7.3.5. Rest of Europe
7.4.3. South Korea
7.4.6. Rest of Asia-Pacific
7.5. Rest of the World
8.1. Market Share Analysis
8.2. Key Strategies adopted by Manufacturers
8.3. Product Benchmarking
9.1. ArcelorMittal S.A.
9.2. Baosteel Group Corporation
9.3. Pohang Iron and Steel Company (POSCO)
9.4. Nippon Steel & Sumimoto Metal
9.5. JFE Holdings Inc.
9.6. Jiangsu Shagang Group
9.7. Tata Steel
9.8. The United States Steel Corporation (US Steel)
9.9. Angang Steel Co. Ltd.
10.2. List of Tables
10.3. Expert Panel Validation
10.5. Contact Us
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